Defibrillator Market Forecasts to 2030 - Global Analysis By Type (Implantable Cardioverter Defibrillators and External Defibrillators), Patient Type (Adult and Pediatric), End User and By Geography.

According to Stratistics MRC, the Global Defibrillator Market is accounted for $15.49 billion in 2023 and is expected to reach $27.50 billion by 2030 growing at a CAGR of 8.6% during the forecast period. Defibrillators are medical devices designed to deliver an electric shock to the heart in order to restore a normal heartbeat, especially during life-threatening cardiac arrhythmias like ventricular fibrillation or ventricular tachycardia. These abnormal heart rhythms can cause the heart to quiver or beat too fast, leading to cardiac arrest. Defibrillators are vital in providing immediate treatment by administering an electric shock, which helps the heart re-establish a regular rhythm and improves blood circulation throughout the body. Defibrillators are extensively used in hospitals, cardiac care units, emergency rooms, and operating rooms to manage cardiac arrhythmias and to provide rapid response in case of cardiac emergencies.

According to the report published by the Coronary Artery Disease Foundation in 2022, around 356,000 out-of-hospital cardiac arrests (OHCA) are reported annually in the US.

Market Dynamics:

Driver:

Increasing incidence of the target disorders

A significant portion of the global population are impacted by cardiovascular diseases such coronary artery disease and cardiac arrest. Arrhythmic sudden cardiac death is more likely as a result of coronary artery disease. The risk of acquiring numerous cardiovascular illnesses is mostly increased by lifestyle conditions such obesity, hypertension, dyslipidemia, and diabetes. In addition, a significant contributor in the increased prevalence of CVD is the growing worldwide elderly population. Due to the gradual deterioration and increase in complexity in the structure and function of the heart, ageing is connected with an exponential rise in the development of ventricular arrhythmias, resulting in an increase in the prevalence of arrhythmias in the heart. All these factors are anticipated to propel the demand for defibrillators to provide timely intervention with these devices during cardiac emergencies.

Restraint:

Cost and Affordability

Defibrillator devices can be prohibitively expensive, especially advanced models with enhanced features and capabilities. This high cost poses a challenge for healthcare providers, facilities, and regions with constrained financial resources, limiting their ability to invest in these life-saving devices. Additionally, affordability concerns hinder widespread adoption and accessibility, hampering efforts to equip public spaces and healthcare institutions with defibrillators. Addressing cost barriers is crucial to ensuring broader availability and utilisation, particularly in underserved communities and resource-constrained healthcare systems.

Opportunity:

Global Aging Population

The incidence of cardiac diseases and the risk of sudden cardiac arrest (SCA) rise along with an increase in the number of elderly people worldwide. Defibrillator adoption is of the utmost importance for the senior population because ageing is typically accompanied by a variety of cardiac issues. In cardiac emergencies, defibrillators are essential for reviving the heart, greatly increasing the likelihood of survival. Defibrillators are becoming more necessary in geriatric care settings, nursing homes, assisted living facilities, and at-home care since the elderly are more prone to cardiac episodes. Moreover, defibrillators are becoming more popular and widely used due to developments in defibrillator technology, such as devices made specifically to meet the demands of the senior population. Manufacturers are investing in research to develop age-appropriate defibrillator solutions to meet the distinct requirements of older individuals, creating a promising market opportunity that aligns with the global demographic shift towards an ageing society.

Threat:

Technological Disruption and Innovation

Technological disruption and innovation pose a significant threat to the defibrillator market. The rapid evolution of medical technology, encompassing miniaturization, artificial intelligence, connectivity, and advanced materials, has the potential to render current defibrillator models obsolete or less competitive. Wearable and connected technologies might revolutionize cardiac monitoring and emergency response, potentially reducing the need for traditional defibrillators. Furthermore, breakthroughs in regenerative medicine and bioengineering could offer alternatives to defibrillators by focusing on cardiac tissue regeneration and repair. Failure to keep pace with these innovations could result in declining market share and diminished demand for traditional defibrillators.

COVID-19 Impact

The COVID-19 outbreak is anticipated to have a negative impact on the growth of the global defibrillator market. The pandemic damaged hospitals' purchasing power, especially minor hospitals, which led to cancelled or postponed supply deals and procedures, which had an effect on the overall income of all the major defibrillator market competitors. The main issues that healthcare systems around the world had to deal with were logistical issues, sickness management, giving priority to patients with comorbidities and pre-existing problems, and further protecting the general public and hospital frontline workers from COVID-19. The speed of delivery of goods and services was also impacted by more recent packaging restrictions and country-imposed lockdown processes. The manufacturing and supply chain for the defibrillator market are adversely affected by each of these issues.

The Implantable Cardioverter Defibrillators segment is expected to be the largest during the forecast period

The Implantable Cardioverter Defibrillators segment is estimated to hold the largest share. Implantable Cardioverter Defibrillators (ICDs) are implantable medical devices designed to monitor and manage irregular heart rhythms, specifically ventricular arrhythmias. The ICD market has experienced significant growth due to the increasing prevalence of cardiac conditions and a growing ageing population. It caters to both primary prevention (for individuals at risk of developing life-threatening arrhythmias) and secondary prevention (for those who have already experienced cardiac events). Moreover, due to the technological advancements it has smaller and more sophisticated ICDs, with features like remote monitoring and integrated pacemakers for bradycardia patients. Additionally, ICDs continue to play a critical role in managing cardiac arrhythmias, improving patient quality of life, and reducing mortality rates, making them a key component of the defibrillator market. Therefore, there is lucrative growth for the defibrillator market.

The Hospitals, Clinics and Cardiac Centres segment is expected to have the highest CAGR during the forecast period

The Hospitals, Clinics and Cardiac Centres segment is anticipated to have lucrative growth during the forecast period. Hospitals, clinics, and cardiac centres are crucial in the adoption, utilisation, and distribution of defibrillators. They serve as primary points of care where defibrillators are essential in treating sudden cardiac arrest (SCA) and other life-threatening arrhythmias. In hospitals and cardiac centres, defibrillators are integral components of emergency rooms, critical care units, cardiac catheterization labs, and operating rooms. Additionally, many clinics and public healthcare centres have AEDs readily accessible to respond to cardiac events in their facilities or surrounding areas. Proper training and education regarding defibrillator usage are essential in these settings to enhance the efficacy and impact of defibrillation efforts. Ensuring the availability and accessibility of defibrillators in hospitals, clinics, and cardiac centres remains paramount to saving lives and improving cardiac care outcomes. Thus, it is propelling segment growth.

Region with largest share:

North America commanded the largest market share during the extrapolated period owing to initiatives by key players, favourable regulations, and technologically advanced healthcare facilities in the U.S. and Canada. North America held the largest revenue share of more than 42.2% in 2022. For instance, Boston Scientific stated that by the end of 2020, it had deployed about 33,000 Autogen, Incepta, Resonate, Cognis, and Dynagen devices from its CRT-Ds line globally. A strong adoption rate can be seen in the fact that 16,500 of these were registered in the U.S. alone. It dominates the defibrillator market because of the prevailing sophisticated level of healthcare facilities and rising expenditure for research and development activities in this region. Additionally, growing installations of external defibrillators in hospitals as well as in public places such as schools, hotels, streets, railway stations, and others with the aim of preventing fatalities from sudden cardiac arrest is prominently responsible for holding a higher defibrillator market share in North America.

Region with highest CAGR:

Asia-Pacific region is expected to witness profitable growth over the projection period, due to an increasing patient population, an expanding healthcare infrastructure, and the frequency of coronary diseases. A high defibrillator penetration rate and supportive policies in Japan are boosting regional expansion. Additionally, as a result of the region's expanding patient base and growing public awareness of public-access defibrillators, the market in this area will experience faster development as infrastructure spending and defibrillator penetration rise. Moreover, countries such as Japan have a high penetration of defibrillators due to the presence of giant companies that are focused on expanding the market in other geographies, which is also likely to augment the global defibrillator market.

Key players in the market

Some of the key players in the Defibrillator Market include: Abbott Laboratories, Inc., Medtronic, MicroPort Scientific Corporation, Boston Scientific Corporation, ZOLL Medical Corporation, Schiller AG, Nihon Kohden Corporation, StrykerCorporation, PhilipsHealthcare, CardiacScienceCorporation, LivaNovaPLC, Asahi Kasei Corporation, Biotronik, CU Medical System Inc., Koninklijke Philips N.V., Metrax GmbH, Progetti srl, Defibtech LLC, HeartSine Technologies LLC and Mindray Medical International Limited.

Key Developments:

In December 2022, Abbott Launches Navitor™, Its Latest-Generation Transcatheter Aortic Valve Implantation (Tavi) System To Treat Aortic Stenosis In India. Global healthcare company, Abbott announced that it has launched its latest-generation transcatheter aortic valve implantation (TAVI) system, NavitorTM, making the minimally invasive device available for people in India with severe aortic stenosis who are at high or extreme surgical risk.

In September 2022, Abbott Launches New Ensure With Hmb To Help Protect And Strengthen Indian Adults' Muscles. The new Ensure with HMB and 32 nutrients is a clinically-tested, science-based nutritional supplement specially designed to protect and strengthen muscles.

In July 2022, Abbott Launches Grow Right 2.0 Highlighting The Right M-E-A-N-S To Help Parents Foster Holistic Growth In Children. Abbott has launched its Grow Right 2.0 charter introducing M-E-A-N-S guidelines for good practices in Measuring growth, Eating, Activity, Nurturing and Sleep. Abbott's Grow Right 2.0 Charter can help parents address concerns with expert-backed guidelines to help encourage healthy habits in children

Types Covered:

• Implantable Cardioverter Defibrillators
• External Defibrillators

Patient Types Covered:

• Adult
• Pediatric

End Users Covered:

• Hospitals, Clinics and Cardiac Centres
• Public Access Markets
• Alternate Care Facilities
• Pre-hospital Care Settings
• Home Care
• Ambulatory Surgical Centers
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

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